Have Greek Markets Turned a Corner?

5/15/2013 3:09AM

A year ago, Greece was toxic territory, but investors have begun to show an appetite against for the country’s stocks, government bonds and corporate debt. WSJ’s Charles Forelle assesses this turnaround. Photo: Associated Press

This transcript has been automatically generated and may not be 100% accurate.

I ... the the ... Reese has gone from ... the euro zone's biggest problem child to be in the stores and likely feeding frenzy for some investors ... and here with Charles Forelle was the Journal's European markets the group to discuss ... I shall stay with a few days it has been a tremendous year for Greece to go back to the back of the year to May two thousand twelve Greece was in political chaos there's this crazy election coming up ... discussions about parties that want a Greece and the euro zone ... the stock market was about five hundred off of its two thousand seven high of five thousand ... they just added the debt restructuring on deals are thirty percent ... but Greece is changed to lease in the Markets viewpoint solidify deals in the corporate bonds ... starting the issue corporate bonds and companies government bond yields are down from thirty to about nine percent the stock market this year's rally that eighty percent plus a so so cool cool is doing is buying it and what are they by at least as corporate bonds equities Greek government debt holders of Greek government debt has been with the great race of the past year a lot of people made a bunch of money doing that after the restructuring people jumped right thank you bought the sponsor done phenomenally well ... equities deal but stocks have done well but which are ... very small volume was very low activity is much less activity in the Greek stock market than there was ... at back in ninety days is this to pre crisis years ... in corporate bonds are seriously interesting little bits of green shoots is I see some companies that have never issued before companies that were ... unable to market in size starting to poke out but it's really companies that are pre Cubbies but not to agree so ... Evan operations elsewhere they have revenue sources that say degrees ... but they're the belittled it's an indication that outcome is in advanced markets so how big a deal is the same is this something that just reflects a few opportunists to hedge funds are banks doing some kind of free fielders isn't some it has the potential to really transform the ... death only represents ... a number of small hedge funds are large headphones but ... as has been relatively small bets in relatively focus areas of the economy but he got a star some ... gets up even when determining Greece ... has to come from somewhere it's gotta start somewhere but it is actually great is now being replicated across all I mean we don't see for instance large amounts of bank lending to most small businesses ... we don't see increased lending to consumers we don't see increased minute of it ... so ... basically ended cautiously optimistic side it's really nothing to guess continues to believe that to date the European Central Bank has a sense of unease all process developed world is forcing people to find yield somewhere anywhere interest rates so low that people have to buy something ... on and that is ... that has pushed ... visit to the design of policies to push people into things like this ... it has started to push people into a war for this year is a great market but it hasn't pushed it has not pushed investment unwinding ever ... Braden a wonder there has been as close as whether this is a positive sign for the rest of this and Southern European periphery to come in ... and a day what were seen this in countries like Spain or Portugal that were seen a little bit of a sustained I'm especially as the Spanish banks try to kill themselves for Samsung and portable but ... to be honest ... it's not a huge man anyway now ... I'm in it ... it still remains off limits for all lot of investors and less with him in it is this something that hedge funds and other banks and post the voters is another Duncan ... furtively Inner little worried taxi ... some of some somewhat some aren't on this on hedge funds it been made of rigidly the ones who have ... correctly at that time Greek government bonds have been crawling back ... on their big bets on Greece and in saying that you have to be getting any miss the opportunity of a lifetime ... I'm but a lot of people are still cautious about it because it is it does carry stayed ... in it does not is not that long ago that Greece's of the disaster for